News / International
OPEC Keeps Oil Demand Forecast Steady, Warns on European Economic Crisis
The Organization of Petroleum Exporting Countries kept its forecast for 2012 oil demand unchanged, while warning that Europe's debt crisis could harm global consumption. Dana Gas Promises to Honor Debt Payments Amid Concern on $1 Billion Sukuk
Dana Gas (DANA) PJSC said it will honor debt obligations as the United Arab Emirates-based energy company faces a $1 billion Islamic bond maturing in October. South Korea frets as U.S. ups oil pressure on Iran
South Korea, a key U.S. ally, warned the United States on Tuesday it would be difficult to replace Iranian crude supplies and expressed concern that sanctions pressure could lead to higher oil prices. Saudi says can pump more fast, favors $100 oil
Saudi Arabia, the world's top oil exporter, said on Monday it can pump more oil at a moment's notice, the day after Iran warned Gulf oil producers not to compensate for any disruption to Iranian output. Chevron Confirms Fire Incident on Rig Offshore Nigeria
Chevron Corporation reports that its subsidiary, Chevron Nigeria Limited, is working to contain a fire that ignited early this morning aboard the K.S. Endeavor, a drilling rig offshore Nigeria operated by FODE Drilling Nigeria Limited. Afren announces a new oil discovery offshore south east Nigeria
Afren plc announces that the Okoro East exploration well, offshore south east Nigeria, has made a new oil discovery having encountered 549 ft true vertical thickness (TVT) of net oil pay and 41 ft of net gas pay in excellent quality reservoir sands. Anadarko Announces Another Major Appraisal Success Offshore Mozambique
Anadarko Petroleum Corporation today announced its seventh well in the discovery area offshore Mozambique successfully appraised previous discoveries at Lagosta and Camarao. The Lagosta-2 appraisal well, located about 4.4 miles (7 kilometers) north of the Lagosta discovery and 5.3 miles (8.5 kilometers) south of the Camarao well, encountered 777 total net feet (237 meters) of natural gas pay in multiple zones. Tethys hits low oil flow in Oman
Tethys Oil is not giving up on a portion of a block in Oman despite failing to find commercial oil flows with its latest exploration well. 
